CBA holds auction on placement of short-term notes

9 December 2020 19:06 (UTC+04:00)

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The Baku Stock Exchange held an auction on the placement of short-term notes of the Central Bank of Azerbaijan (CBA) on December 9, 2020, Trend reports citing the BSE.

The number of notes was 100 million manat ($58.8 million), a circulation period - 28 days.

During the auction, 10 investors submitted 16 orders in the price range from 99.5 manat ($58.52) (6.49 percent) to 99.53 manat ($58.54) (6.01 percent).

According to the CBA's decision, the cut-off price of the bonds amounted to 99.53 manat ($58.54) (6.01 percent), and the weighted average price - 99.53 manat ($58.54) (6.01 percent). The total amount of orders at nominal prices amounted to 438.7 million manat ($258 million).

The maturity date is January 6, 2021.

Short-term notes are a monetary policy tool for regulating the money supply in circulation. Only banks can buy notes.